The comparative balance sheet of Orange Angel Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:

		Dec. 31, 20Y8		Dec. 31, 20Y7
Assets
Cash		$47,220		$57,800
Accounts receivable (net)		72,550		77,920
Merchandise inventory		103,640		96,580
Prepaid expenses		4,220		2,930
Equipment		211,130		173,040
Accumulated depreciation-equipment		(54,890)		(42,440)
	Total assets	$383,870		$365,830
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$80,610		$76,460
Mortgage note payable		0		109,750
Common stock, $1 par		13,000		8,000
Excess of paid-in capital over par		178,000		103,000
Retained earnings		112,260		68,620
	Total liabilities and stockholders equity	$383,870		$365,830

Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:

1. Net income, $111,720.
2. Depreciation reported on the income statement, $26,810.
3. Equipment was purchased at a cost of $52,450, and fully depreciated equipment costing $14,360 was discarded, with no salvage realized.
4. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty.
5. 5,000 shares of common stock were issued at $16 for cash.
6. Cash dividends declared and paid, $68,080.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Orange Angel Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8

Cash flows from (used for) operating activities:
Common stockDepreciation expenseInventoryNet incomeRetained earnings	$- Select -
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Cash dividendsDecrease in accounts receivableDepreciationNet incomeRetained earnings	- Select -
Changes in current operating assets and liabilities:
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoryDepreciationIncrease in accounts receivable	- Select -
Decrease in accounts payableDecrease in merchandise inventoryDecrease in prepaid expensesIncrease in accounts receivableIncrease in merchandise inventory	- Select -
Decrease in accounts payableDecrease in inventoryDecrease in prepaid expensesIncrease in prepaid expensesDepreciation	- Select -
Decrease in accounts payableDecrease in prepaid expensesDepreciationIncrease in accounts payableNet income	- Select -
Net cash flows from operating activities		$fill in the blank 13
Cash flows from (used for) investing activities:
Cash received from issuing common stockCash paid for equipmentCash dividendsCash paid for prepaid expensesCash paid to retire mortgage note	$- Select -
Net cash flows used for investing activities		fill in the blank 16
Cash flows from (used for) financing activities:
Cash received from customersCash received from depreciationCash received from net incomeCash received from retained earningsCash received from issuing common stock	$- Select -
Cash paid for accounts payableCash dividendsCash paid for equipmentCash paid for inventoryCash paid for prepaid expenses	- Select -
Cash paid for accounts payableCash paid for accumulated depreciationCash paid for depreciationCash paid for inventoriesCash paid to retire mortgage note payable	- Select -
Net cash flows from financing activities		fill in the blank 23
DepreciationNet decrease in cashNet incomeNet increase in cashNet loss		$- Select -
Cash balance, January 1, 20Y8		fill in the blank 26
Cash balance, December 31, 20Y8		$fill in the blank 27